The country’s total external trade in goods in April 2019 amounted to $14.51 billion, reflecting a decrease of 1.0 percent from the $14.66 billion external trade in the same month of the previous year. Of the total external trade, $5.51 billion or 37.9 percent were exported goods and $9.01 billion or 62.1 percent were imported goods.

The country’s balance of trade in goods (BoT-G) went down to $3.50 billion deficit in April 2019, from $3.70 billion deficit in April 2018.  (Tables 1, 2 and 3)

1. Exports increase by 0.4 percent while imports decrease by 1.9 percent

The country’s total export sales in April 2019 was $5.51 billion, indicating a slight increase of 0.4 percent, from the $5.48 billion total export sales in April 2018. This was due to the increases in export sales of the seven of the top 10 major export commodities, namely, fresh bananas (76.7%); gold (36.1%); machinery and transport equipment (28.5%); coconut oil (18.1%); ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (14.5%); other manufactured goods (4.0%) and electronic products (3.0%). 

By commodity group, export of electronic products continued   to   be   the   country’s   top   export with total earnings of $3.12 billion. This amount, which accounted for 56.7 percent of the total exports’ revenue in April 2019, went up by 3.0 percent from the $3.03 billion export receipt in April 2018.  Components/devices (semiconductors) accounted for the biggest share of 41.2 percent among the electronic products.  It posted an increment of 1.2 percent, from $2.24 billion in April 2018 to $2.27 billion in April 2019.

On the other hand, total imported goods in April 2019 decreased by 1.9 percent, from $9.18 billion in April 2018 to $9.01 billion in April 2019.  The decrement was due to the declines in five of the top 10 major import commodities. These were transport equipment (-27.7%); plastic in primary and non-primary form (-14.2%); iron and steel (-14.2%); industrial machinery and equipment (-10.6%) and telecommunication equipment and electrical machinery (-1.0%). 

Among the imported commodity group, import bills of electronic products, valued at $2.36 billion, accounted for the highest share of 26.2 percent to the total imports.  Import of this commodity group rose by 2.0 percent, from $2.31 billion in April 2018.  Among the electronic products, components/devices (semiconductors) accounted for the biggest contribution of 17.2 percent.  It fell by 2.0 percent, from $1.58 billion in April 2018 to $1.55 billion in April 2019.  (Table 3)

2. Exports of manufactured goods increase by 2.0 percent while imports of raw materials and intermediate goods decrease by  16.3 percent

By major type of goods, exports of manufactured goods, representing 84.1 percent of the total exports, were valued at $4.63 billion in April 2019.  It  went up  by 2.0 percent from the $4.54 billion export value in April 2018.  This was followed by exports of total agro-based products and  mineral products amounting to $444.68 million and $316.25 million, respectively. (Table 4)

On the other hand, imports of  raw materials and intermediate goods posted the largest contribution of 36.8 percent to the total import value. It contracted by 16.3 percent, from $3.96 billion in April 2018 to $3.31 billion in April 2019.  Semi-processed raw materials contributed $3.08 billion or 34.2 percent to the total imports.  

Imports of capital goods ranked second, sharing 31.4 percent and import value of $2.83 billion.  Consumer goods placed third with a share of 17.2 percent and value worth $1.55 billion. (Table 5)

3. Exports to USA account for 16.5 percent while imports from People’s Republic of China account for 23.9 percent

By major trading partners, exports to the United States of America (USA) posted the highest export value of $906.98 million or a share of 16.5 percent to the total exports in April 2019.  Exports to this country expanded by 10.6 percent, from $819.91 million in April 2018.  Other major export trading partners were People’s Republic of China, $804.39 million; Japan, $780.99 million; Hong Kong,  $704.82 million; and Singapore, $275.33 million. (Table 6)

People’s Republic of China was the country’s biggest supplier of imported goods with 23.9 percent share to total imports in April 2019.  Import payments from this country reached $2.15 billion, from $1.83 billion in April 2018.  Other major import trading partners were Japan, $827.73 million;  Republic of Korea, $710.41 million;  United States of America, $663.95 million; and Singapore, $555.89 million. (Table 7)

4. Exports to countries in East Asia comprise 49.7 percent while imports reach 48.3 percent

By economic bloc, majority of the country’s merchandise exports in April 2019, which comprised 49.7 percent of total exports or $2.74 billion, went to countries in East Asia.  This amount went up by 1.8 percent, from $2.69 billion in April 2018.  Similarly, East Asia was the biggest supplier of the country’s imports in April 2019, amounting to $4.35 billion or 48.3 percent of the total imports.  This amount decreased by 3.8 percent, from $4.52 billion in April 2018.

Total exports to the ASEAN member countries was valued at $855.89 million or with a share of 15.5 percent to total export value.  It went down by 5.1 percent from the export value of $901.98 million in April 2018.  Commodities imported from ASEAN member countries reached $2.30 billion.  It contributed 25.5 percent to total import and grew by 0.6 percent from the recorded import value of $2.28 billion in April 2018.

Exports to the United States of America (USA) worth $906.98 million had a share of 16.5 percent.  It increased by 10.6 percent from the recorded value of $819.91 million in April 2018.  However, imports from USA with an amount of $663.95 million, went down by 3.0 percent from the April 2018 value of $684.38 million.

Goods exported to European Union (EU) member countries registered a value of $666.50 million or a share of 12.1 percent.  It decreased by 9.0 percent from its value of $732.41 million in April 2018.   Moreover, imports from the European Union (EU) recorded a value of $667.11 million or a share of 7.4 percent.  It decreased by 1.7 percent from the April 2018 value of $678.42 million. (Table 10)